LONDON—Oil was steady on Monday ahead of a meeting by OPEC and its allies which may determine whether a recent rally in prices amid supply shocks and a recovery from the COVID-19 pandemic will be sustained.
Brent crude was down 6 cents or 0.1 percent at $79.22 per barrel by 0935 GMT. It rose 1.5 percent last week, its fourth weekly gain in a row. U.S. oil dropped by 13 cents or 0.2 percent to $75.75, after gaining for the past six weeks.
